Answer the following statement(s) true (T) or false (F)
1. Classical economic theorists argue that tax cuts and other incentives for investors and businesses at the top will lead to economic benefits for those at the bottom.
2. Supply-side economies believe in zero government intervention to implement policies.
3. Classical economic theory draws on free market ideas.
4. The gross domestic product (GDP) is the nation’s total production of goods and services for a single year.
5. Federal budget processes did not exist before the Budget and Accounting Act of 1921.
1. False
2. False
3. True
4. True
5. True
You might also like to view...
The federal bureaucracy consists of three basic types of agencies: cabinet departments, independent executive agencies, and independent regulatory commissions
Indicate whether the statement is true or false
Terminating debate in the Senate takes a vote for cloture adopted by
a. the majority party. b. the minority party. c. three-fifths of the entire Senate. d. a simple majority of those present. e. two-thirds of the total membership.